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Embrace the power of compound interest from "summary" of Investing Basics for Beginners by Razaq Adekunle
Compound interest is a key concept in the world of investing that every beginner should understand. It is the interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan. In simpler terms, it means earning interest on interest. When you invest your money, you are not only earning returns on the initial amount you put in but also on the interest that your investment has generated over time. This compounding effect can significantly boost your returns over the long term. The more time your money has to compound, the greater the impact it will have on your investment portfolio. To illustrate the power of ...
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